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Mandatum

4,41 EUR +0,94%
6 018 investerare följer bolaget.

Mandatum innehar verksamhet inom den finansiella sektorn. Bolaget erbjuder diverse finansiella tjänster till både privata sparare samt företagskunder. Utbudet är brett och inkluderar huvudsakligen kapital- och förmögenhetsförvaltning, sparande och investeringar, ersättningar, pensionsplaner och personlig riskförsäkring. Störst verksamhet återfinns inom Finland.

P/E (just.) (24e)
12,22
EV/EBIT (adj.) (24e)
8,84
P/B (24e)
1,37
Direktavkastnings- % (24e)
7,94 %
Riktkurs
4.50 EUR
Rekommendation
Minska
Uppdaterad
13.8.2024
NASDAQ Helsinki
MANTA
Dagens lägsta / högsta pris
4,37 / 4,447 EUR
Börsvärde
2,22 md EUR
Omsatt (värde)
2,12 mn EUR
Omsatt (antal)
481 tn
Business risk
Valuation risk
Current
Previous

Senaste analyserna

Mandatum Q2'24: Best of expected return behind
2024-08-14
There is value in the balance sheet
2024-05-10
Mandatum: The story is on track
2024-02-14

Extensive report

Inderes' extensive report is an investor's handbook on customer companies covered by our research.
The latest extensive report was released
Read the report

Analytiker

Kasper Mellas
Kasper Mellas
Analytiker

Senast publicerade videor

Mandatum Oyj, Audiocast with teleconference, Q2'24
2024-08-13
Mandatum Q1 Results Webcast
2024-05-08
Mandatum Q4’23: Story is on track
2024-02-19

Finansiell kalender

Delårsrapport
2024-11-12
Årsredovisning
2025-02-13
Delårsrapport
2025-05-08
Bolagsstämma
2025-05-15
Delårsrapport
2025-08-14

Forum uppdateringar

Håll dig uppdaterad med de senaste diskussionerna om Mandatum
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Besök forumet
@Kasper_Mellas comments on Mandatum’s Q4 result, profit distribution, solvency, outlook and guidance as well as our estimates and recommendation at the moment! Inderes Mandatum Q4’23: Story is on track - Inderes Analyst Kasper Mellas comments on Mandatum’s Q4 result, profit distribution, solvency, outlook and guidance as well as our estimates and recommendation at the moment!
Sara Antonacci
2024-02-19 14:09💙 3
Färsk intervju med analytiker Kasper Mellas om Mandatum. Inderes — Connecting Investors and Companies Mandatum: Dividend-based returns We’ve initiated coverage of Mandatum. On the video, analyst Kasper Mellas explains the company’s business and comments on Mandatum as an investment.
Pia Maljanen
2023-10-18 13:15💙 3
Tack för dina vänliga ord @börsen84 och toppen att du länkade twitter-tråden (eller ska man säga X)
Pia Maljanen
2023-10-13 10:12💙 2
Här är en högkvalitativ analys av Mandatum. Mandatum published Q2 figures that were significantly better than our expectations. The earnings beat was mainly driven by investment performance, but the capital-light businesses also performed better than expected. Based on the Q2 report, we have raised our earnings forecasts for the coming years. However, we see that the best of the stock’s expected returns have been left behind by the recent rise in the share price, so we downgrade our recommendation to Reduce (was Accumulate) and reiterate our target price of EUR 4.5. Inderes Mandatum Q2'24: Best of expected return behind - Inderes Mandatum published Q2 figures that were significantly better than our expectations. The earnings beat was mainly driven by investment performance, but the capital-light businesses also performed better than expected.
börsen84
2024-08-14 13:27💙 1
Här är en ny och högkvalitativ analys av Mandatum Inderes There is value in the balance sheet - Inderes Mandatum published Q1 figures that fell short of our expectations. The earnings miss is explained by investment returns, which were slightly below our expectations. Mandatum published Q1 figures that fell short of our expectations. The earnings miss is explained by investment returns, which were slightly below our expectations. However, the capital-light businesses developed better than expected, so overall the quarterly report left a good impression.
börsen84
2024-05-10 18:12💙 1
Saxo Bank överväger strategiska alternativ Inderes Market rumor: Saxo Bank is considering strategic options - Inderes Yesterday, Reuters reported a market rumor that Saxo Bank was again exploring strategic options for a change in its ownership structure. The news is not surprising as Saxo has been considering various options over the past few years, e.g., listing...
börsen84
2024-04-17 19:41💙 1
Here’s Mandatum’s annual report, it’s quite beautiful! mandatum.fi mandatum_group_annual_report_2023.pdf 8.86 MB
börsen84
2024-04-13 15:12💙 1

Resultaträkning

20202021202220232024e2025e2026e2027e
Omsättning157,0306,0126,0135,0155,9168,5178,7189,1
tillväxt-%−43,9 %94,9 %−58,8 %7,1 %15,5 %8,0 %6,1 %5,8 %
EBITDA164,5314,184,3216,0229,5200,5179,6171,3
EBIT (adj.)157,0306,075,7210,4229,5200,5179,6171,3
EBIT157,0306,075,7210,4229,5200,5179,6171,3
Vinst före skatt157,0306,075,7210,4229,5200,5179,6171,3
Nettoresultat125,6244,875,7160,7181,1158,2141,7135,1
EPS (adj.)0,230,450,150,320,360,320,280,27
tillväxt-%−43,9 %97,9 %−67,1 %117,7 %12,7 %−12,7 %−10,4 %−4,6 %
Utdelning0,000,370,390,330,350,330,280,27
Utdelningskvot81,7 %265,1 %103,0 %97,0 %104,7 %100,0 %100,0 %

Lönsamhet och avkastning på kapital

20202021202220232024e2025e2026e2027e
EBITDA-%104,8 %102,6 %66,9 %160,0 %147,2 %119,0 %100,5 %90,6 %
EBIT-%100,0 %100,0 %60,1 %155,9 %147,2 %119,0 %100,5 %90,6 %
EBIT-%100,0 %100,0 %60,1 %155,9 %147,2 %119,0 %100,5 %90,6 %
ROE8,5 %14,8 %4,4 %9,8 %11,3 %9,8 %8,9 %8,6 %
ROI8,6 %15,1 %3,6 %10,8 %11,5 %9,5 %8,7 %9,5 %

Värdering

20202021202220232024e2025e2026e2027e
Pris per aktie (EUR)3,703,703,704,074,414,414,414,41
Aktier556,6548,0514,5501,8501,8501,8501,8501,8
Börsvärde2 059,22 027,61 903,62 042,32 212,92 212,92 212,92 212,9
Rörelsevärde1 729,61 484,31 528,51 553,72 027,41 742,91 775,31 790,9
EV/S11,04,912,111,513,010,39,99,5
EV/EBITDA10,54,718,17,28,88,79,910,5
EV/EBIT (adj.)11,04,920,27,48,88,79,910,5
EV/EBIT11,04,920,27,48,88,79,910,5
P/E (just.)16,48,325,112,712,214,015,616,4
P/E16,48,325,112,712,214,015,616,4
P/B1,31,21,11,31,41,41,41,4
P/S13,16,615,115,114,213,112,411,7
Direktavkastning9,9 %10,5 %8,1 %7,9 %7,5 %6,4 %6,1 %
Soliditet10,8 %10,6 %11,4 %9,8 %9,7 %9,6 %9,5 %9,8 %
Skuldsättning−20,8 %−31,3 %−22,2 %−30,6 %−11,5 %−29,4 %−27,8 %−26,9 %

Kvartalsuppgifter

Q3/23Q4/232023Q1/24Q2/24Q3/24eQ4/24e2024eQ1/25e
Omsättning37,034,0135,036,639,239,740,4155,9
EBITDA85,348,3216,046,975,854,951,9229,5
EBIT84,046,3210,446,975,854,951,9229,5
Vinst före skatt84,046,3210,446,975,854,951,9229,5
Nettoresultat68,529,2160,737,957,843,941,5181,1
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Analytikerkommentar av
Kasper Mellas

Mandatum issues subordinated loan of 300 MEUR

On Friday, Mandatum announced that it will issue a EUR 300 MEUR Tier 2 capital loan to finance the repayment of a previous subordinated loan. This is a normal restructuring measure. The new loan is slightly larger than the previous one, so this has a small negative impact on our forecasts.

Mandatum
Analytikerkommentar av
Kasper Mellas

Mandatum redeems its 250 MEUR subordinated loan

Mandatum announced that it had informed the bondholders that it would redeem the 250 MEUR Tier 2 subordinated loan on the first possible redemption date of October 4, 2024. This was not surprising, as management has previously indicated that it is considering refinancing the loan in question this year.

Mandatum